CHART: Why Investors 'Sell In May And Go Away'

While the economic rationale behind the rule is dodgy,
historically the rule has worked for investors.

Myles Zyblock, Chief Institutional Strategist at RBC
Capital Markets, wrote about it in his latest U.S. Equity
Strategy Weekly note.

The period from May through to September has been a relatively
challenging block of calendar months for equities. Average
monthly returns during this period not only look light, but the
proportion of positive returns seen within each of these months
is depressed relative to the rest of the calendar. In fact, we
find that the average annualized return for the S&P 500 from
May to September is about -0.5% versus +12.1% for the remainder
of the year.